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Trusted Answers From Licensed Business Professionals

Should I Get Mortgage Life Insurance?


As the housing market continues to rebound and mortgage rates remain low, many new and existing homeowners may be completing mortgage applications. Getting the mortgage at the right rate and the home for that matter should be of most concern. However, one of the items that often gets offered in the package is mortgage life insurance. What is it and should you purchase it? .
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How Can I Take Out The Cash Value From My Life Insurance Policy?


There are still plenty of policyholders that are on the fence about what to do with the cash value from their insurance plan. If you're thinking about tapping into it, you likely need it for retirement or are in a financial bind. If you're in this situation, you'll need to know the different ways to pull the cash out without facing taxes or penalties. .
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Storm Victims Need To Be Aware of Hurricane Deductibles

Most homeowners with an insurance policy are aware that they have to meet their deductible before the insurance company will cover any damage. However, few are aware that insurance policies include a separate provision for hurricanes. What does this mean for those affected by Sandy? Read More.

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Getting Your Hurricane Sandy Insurance Claims Paid Quickly

Contrary to Hurricane Irene, Sandy left the Mid-Atlantic states with catastrophic damage. The areas hit the worst include New Jersey, New York & Connecticut. Initial estimates indicate that the total damages could exceed $50 billion, which would rank among the second costliest storms in U.S. history; behind Hurricane Katrina. Given the significant loss, many affected families are going to be submitting insurance claims very shortly, if they haven’t already done so. What can you do to increase the chances that your claim is paid quickly? Read More.

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Are Insurance Proceeds From Hurricane Sandy Taxable?

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Hurricane Sandy was a major blow for several homeowners and businesses. The losses are unprecendented for the region and will trigger an excessive number of insurance claims. It’s important to understand the tax ramifications, if any, for receiving an insurance settlement on a claim. Read More.

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Do You Have a Grandfathered Health Insurance Plan?


The new health care law has brought on a barrage of new questions for covered individuals and employees. One topic that hasn't been discussed much is the consequences for having a grandfathered health insurance plan. It just so happens that grandfathered plans escape some of the provisions of the new law. .
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The Expected Trend Toward Defined Contribution Health Plans


Many of us are familiar with defined contribution plans as they relate to our employer sponsored retirement accounts (i.e. 401k). This model may soon become popular with health care plans. .
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The 40% Excise Tax On Health Care Plans May Impact You


We all know that health care reform is on its way which means that taxes will be rising. The government will be utilizing a variety of funding sources such as the 3.8% investment income tax and the 0.9% additional medicare tax directed toward high income earners. One other area that hasn't been discussed much happens to be the 40% insurer excise tax on "Cadillac" health care plans. This excise tax may impact far more than just C-Level executives with fat cat health care plans. .
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Should I Purchase Long-Term Care Insurance?


The 65 year old plus population is expected to grow from 40M today to 71M or 20% of the population in 2030 (US Census Bureau June '09). Still, very few Americans have a plan when it comes to long-term care insurance. Investing in a policy today may save you tens of thousands of dollars per month later on in life. .
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How to Handle Insurance For Children in College


When your child moves away from home and off to college, there are a whole slew of things to take care of which includes reviewing your insurance coverage. Is your child appropriately covered or are you spending too much on insurance? .
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